SBI Fixed Maturity Plan Series 71: Good news has come for those investing in mutual funds. India’s largest public sector bank State Bank of India (SBI) has launched a new fixed maturity plan in the mutual fund debt category. According to experts, this is a good option for income along with capital growth.
SBI Fixed Maturity Plan Series 71 (364 Days)
This new mutual fund of SBI is SBI Fixed Maturity Plan (FMP) – Series 71 (364 Days). This is a close-ended scheme. That is, in this, you cannot withdraw money before maturity. This is SBI’s new fixed maturity plan in the debt category. Let us know the complete details of SBI Mutual Fund’s open date, maturity, and minimum investment.
State Bank of India New FMP – Series 71 Full Details
The subscription of this new fixed maturity plan “SBI Fixed Maturity Plan (FMP) – Series 71 (364 Days)” of State Bank opened on 10 November 2022. The subscription to this NFO of SBI will close on 16 November 2022. There is a lot of enthusiasm among retail investors to buy it.
Let us tell you that the State bank of India Fixed Maturity Plan Series 71 is a close-end scheme. That is, in this, you cannot withdraw money before maturity. This is a debt-category fund, so its risk is moderate.
Maturity and Minimum investment complete details
The maturity of this fund of State bank Fixed Maturity Plan (FMP) – Series 71 (364 Days) is 364 Days. That is, you cannot withdraw your money before 364 days in this scheme.
The minimum investment limit in this FNO scheme of SBI is Rs 5,000. After this, you can invest any amount in multiples of Rs. You will get returns according to your investment.
Where does this fund invest?
Let us tell you that this Fixed Maturity Plan benchmark index of SBI is NIFTY Low Duration Debt Index. This scheme invests money in debt/money market instruments/government securities. The risk in this fund category NFO is moderate. This is a close-ended fund due to which entry and exit load are not applicable.
Expert’s opinion on this new SBI FNO!
According to experts, this scheme is a good option for income with capital growth during the tenure. The objective of state bank Fixed Maturity Plan Series 71 is to provide regular income and capital growth with a limited interest rate to the investors by way of investment in a portfolio of debt instruments maturing on or before the maturity of the scheme.
Question: What is the minimum investment in this fund?
Answer: The minimum investment in this FNO of SBI is Rs 5000.
Question: What is the maturity period of this FNO of SBI?
Answer: The maturity of this new FNO of SBI is 364 days.
Question: What is the opening date of the SBI Fixed Maturity Plan (FMP)?
Answer: The subscription to SBI Fixed Maturity Plan (FMP) – Series 71 (364 Days) will be open from November 10, 2022, to November 16, 2022.
Disclaimer: Investment in Mutual Funds is subject to market risks. Please consult your advisor before investing.